Asda goes for growth
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Hot on the heels of the Competition Commission report on grocery retailing comes news of a planned expansion by the UK’s second largest operator.
Grocery retailer Asda has announced plans to create 9,000 jobs in the UK through a mixture of new stores (20+ new stores + extensions to existing stores), product range extensions (adding non-food selling space named Asda Living) and other business expansion (home shopping and online shopping via asda Direct).
It sounds like an ambitious growth plan, although Asda needs to keep growing quickly just to maintain its relative market share. Asda still trails far behind Tesco, the market leader, which employs 270,000 compared to Asda’s planned 179,000 employees. Tesco has 1,252 shops compared to Asda’s 352 sites.
Tesco holds 31.4% of the UK grocery market. Asda has 16.9%, Sainsbury’s has 16.4% and Morrisons 11.5%.
You can read more about the plans from Asda’s press release here
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